State lending data
SBA lending in Maryland
3,875 SBA 7(a) loans went to businesses in Maryland recently, at a median of $125,000. The lenders that made them, what they charged, and how the state is trending.
3,875 SBA 7(a) loans went to businesses in Maryland in the most recent fiscal years, at a median of $125,000. The most active lender in the state was Manufacturers and Traders Trust Company, with 1,563 loans. Approvals are down 12.0% on the year.
SBA lending in Maryland, by the numbers
Every figure here is computed from SBA 7(a) loan-level FOIA data released 2026-06-30 — loans actually approved to businesses in Maryland, not advertised ranges.
| Measure | Maryland | National |
|---|---|---|
| Loans approved | 3,875 | 214,102 |
| Total approved | $1.5 billion | $104.1 billion |
| Median loan | $125,000 | $150,000 |
| 25th – 75th percentile | $45,000 – $350,000 | $50,000 – $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.75% | 10.25% |
| Share to startups | 39.4% | 33.6% |
| Charge-off rate, FY2010–19 | 8.1% | 7.1% |
| Jobs supported | 40,219 | 2,142,602 |
| Counties with recorded lending | 24 | — |
| Lenders active in the state | 151 | — |
Is SBA lending in Maryland growing or shrinking?
Fewer, larger loans. The number of approvals fell while the total dollars approved rose, so what shrank in Maryland is small-loan lending. Comparing December 2025 to June 2026 with December 2024 to June 2025, the same months a year earlier, 7(a) approvals to businesses in Maryland went from 751 to 661 loans, down 12.0% — while the dollars approved went from $268.6 million to $284.9 million, up 6.1%. The average approval rose from $357,602 to $431,058, so the change is weighted toward larger loans.
Maryland is holding up better than most of the country: 8th of 51 for year-on-year change, against a national decline of 21.0%.
| Fiscal year | Loans in Maryland | Loans nationally | State share |
|---|---|---|---|
| FY2023 | 817 | 51,747 | 1.6% |
| FY2024 | 1,077 | 62,618 | 1.7% |
| FY2025 | 1,201 | 64,096 | 1.9% |
| FY2026 (part year) | 780 | 35,641 | 2.2% |
Which lenders actually fund businesses in Maryland
Ranked by loans approved inside Maryland. The median, startup share and rate columns describe each lender's own Maryland loans, not its national averages — the same bank often writes very different business from one state to the next.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| Manufacturers and Traders Trust Company | 1,563 | $50,000 | 49% | 11.25% |
| TD Bank | 182 | $50,000 | 29% | 11.50% |
| Readycap Lending, LLC | 166 | $142,000 | 13% | 11.25% |
| The Huntington National Bank | 145 | $300,000 | 63% | 10.25% |
| Newtek Bank | 135 | $184,000 | 22% | 11.50% |
| BayFirst National Bank | 132 | $150,000 | 2% | 12.25% |
| Northeast Bank | 119 | $110,300 | 10% | 10.75% |
| Live Oak Banking Company | 94 | $677,500 | 37% | 9.25% |
| Wells Fargo Bank | 72 | $15,000 | 82% | 12.75% |
| PNC Bank | 71 | $25,000 | 42% | 11.90% |
| Celtic Bank Corporation | 65 | $150,000 | 17% | 10.25% |
| United Midwest Savings Bank | 60 | $150,000 | 78% | 10.50% |
What stands out about Maryland
Reading the state's own figures against the national picture:
- Loans here run smaller than average. The median of $125,000 is 17% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, and the rate here does run above the national median — see below.
- New businesses do well here. 39.4% of these loans went to startups or businesses no more than two years old, against 33.6% nationally — an unusually open market if you have no trading history.
- Rates run higher here. The median initial rate of 10.75% is 0.50 points above the 10.25% national median. Most 7(a) lending is variable-rate, so treat this as a comparison between markets, not a quote.
Who borrows in Maryland
The industry mix of SBA borrowers here, led by professional services.
| Sector | Loans | Share | Median loan | To startups |
|---|---|---|---|---|
| Professional Services | 521 | 13.4% | $125,000 | 28% |
| Healthcare | 498 | 12.9% | $150,000 | 43% |
| Restaurants and Hotels | 469 | 12.1% | $210,000 | 57% |
| Construction | 468 | 12.1% | $100,000 | 26% |
| Personal Services | 433 | 11.2% | $100,000 | 41% |
| Retail | 367 | 9.5% | $150,000 | 38% |
| Admin Services | 249 | 6.4% | $100,000 | 34% |
| Trucking | 182 | 4.7% | $53,400 | 36% |
| Manufacturing | 160 | 4.1% | $147,000 | 44% |
| Arts and Recreation | 150 | 3.9% | $137,450 | 69% |
| Education | 102 | 2.6% | $50,000 | 50% |
| Wholesale | 97 | 2.5% | $125,000 | 38% |
Where the money goes in Maryland
SBA lending is more concentrated than state totals suggest, and Montgomery County alone accounts for 16% of the state's loans.
| County | Loans | Median loan | Total approved |
|---|---|---|---|
| Montgomery County | 606 | $150,000 | $228.0 million |
| Baltimore County | 586 | $100,000 | $223.3 million |
| Prince Georges County | 539 | $142,000 | $202.2 million |
| Anne Arundel County | 408 | $150,000 | $177.9 million |
| Baltimore City | 327 | $150,000 | $124.9 million |
| Howard County | 313 | $150,000 | $118.1 million |
| Frederick County | 230 | $125,000 | $96.5 million |
| Harford County | 178 | $100,000 | $52.9 million |
| Carroll County | 105 | $150,000 | $34.4 million |
| Washington County | 95 | $85,000 | $53.7 million |
| Charles County | 84 | $150,000 | $35.0 million |
| Wicomico County | 53 | $142,500 | $14.0 million |
SBA 504 in Maryland
7(a) is the general-purpose program. 504 is the one for buying the building or the heavy equipment, at a long fixed rate — a different program with its own lenders, called Certified Development Companies.
| Measure | Maryland 504 | National 504 |
|---|---|---|
| Projects approved | 112 | 22,192 |
| Median CDC share | $934,500 | $730,000 |
| Median total project | $2,069,500 | $1,642,000 |
| Median term | 25 years | 25 years |
- Which CDCs operate here, and on what terms: SBA 504 in Maryland
- How the two programs differ: SBA 504 loans and SBA 7(a) loans
How to use this page
- Start from the lender table, not a search engine. Shortlist three whose median loan in Maryland is near what you need. Size match beats brand.
- Follow your industry link in the sector table for the lenders that fund your kind of business in this state specifically.
- Then your county, if it is listed, for the local picture.
- Check the payment before you apply with the affordability calculator — lenders decline on cash flow more than on anything else.
- Filter the whole lender file yourself in the lender finder if you want to combine state, industry, loan size and business age at once.
Other states
- States of comparable lending volume: Indiana, Virginia, Arizona, Utah, Minnesota, Wisconsin, California, Florida
Questions people actually ask
How many SBA loans are approved in Maryland each year?
3,875 SBA 7(a) loans were approved to businesses in Maryland across fiscal years 2023 to 2026, using data released June 2026, worth $1.5 billion in total. Over the most recent comparable months the number of approvals ran down 12.0% year on year, while the dollars approved ran up 6.1%.
Which bank approves the most SBA loans in Maryland?
Manufacturers and Traders Trust Company, with 1,563 loans approved to businesses in the state and a median loan of $50,000. That makes it the most active, not necessarily the best fit — a lender whose median is far from your number is usually the wrong call.
Do I have to use a lender based in Maryland?
No. SBA lenders routinely lend across state lines and several of the largest are non-bank lenders with no branches at all. What the state data tells you is which institutions are already comfortable with businesses like yours here.